Maersk Drilling has been awarded a new contract for the jack-up rig Maersk Resilient with Maersk Oil.
Premier Oil has revealed its production levels are ahead of expectations.
A trio of companies have ended their planned merger after the parties failed to agree on terms. The deal would have created one of the largest floating LNG infrastructure companies between Flexlife LNG, Geveran and Exmar. The companies had agreed on main terms for the transaction in July this year but it was still awaiting due diligence as well as agreement on some finer details.
The chief operating officer of Trinity Exploration & Production will step down from his role as the company makes a number of redundancies following the low oil price. Craig McCallum will leave his position at the end of March next year as the company makes a number of management changes. Trinity said a redundancy programme has been implemented as it assesses its current funding position in the low oil price environment.
Oil Search has signed a statement of intent on the next phases of the Ramu Power Project in Papua New Guinea. The company said the agreement has been made with government-owned PNG Power Limited (PPL) on the project which is aimed at connecting up to one million people to a larger electricity grid by 2030.
Total SA, Europe’s second-biggest oil company, scaled back its production target for 2017 as it announced a further round of investment cuts and project delays to protect its dividend. Total expects to produce 2.6 million barrels of oil equivalent a day, compared with a previous forecast of 2.8 million barrels a day, the company said Wednesday before holding an investor day in London. The measures are a sign that oil majors are extending their belt-tightening into next year and 2017 after companies from Chevron Corp. to Royal Dutch Shell Plc announced large spending cuts for 2015.
One of the major cash cows on the Norwegian shelf, the Gullfaks field, which has been producing for nearly 30 years, is facing further investments to boost production and extend the field’s lifetime.
Indian integrated gas production company Great Eastern Energy has appointed Prashant Modi as managing director & chief executive.
Chariot Oil & Gas, the Atlantic margins focused oil and gas exploration company, has said it has sufficient cash to pursue additional opportunities, including prospects in Mauritania.
Aberdeen-based Faroe Petroleum, the independent oil and gas company, has spudded its latest exploration well on the Blink prospect.
UK-based Hurricane Energy slashed its losses for the first half of the year.
It’s unlikely that oil prices will ever return to $100 a barrel and Petroleo Brasileiro SA needs to work with suppliers to manage the price rout, an executive at the state-run oil producer said Tuesday.
The slump in oil prices as the year wore on failed to stop Acteon Group making bigger profits pre-tax during 2014.
The North Sea services arm of waste management giant Augean has defied the oil and gas downturn to register a huge increase in profits.
Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, edged into the black during the six months to June 30.
Energy supply chain companies in eastern England are escaping the worst effects of the North Sea industry downturn by keeping prices low and developing new solutions to drive down costs further, according to an industry leader.
Disgruntled customers are ditching the energy giants in their droves as smaller independent suppliers continue to erode their market share, research suggests.
Pressure has mounted on the Treasury to introduce further tax breaks for the oil and gas industry as new research reveals that cost-cutting may not be enough to ensure the North Sea is attractive to investors.
In response to the decline in crude oil prices since mid-2014, the number of active offshore rigs has declined worldwide, dropping close to 20%—304 offshore rigs were operating in August 2015, down from 377 in August 2014.
Iraq’s self-governing Kurds can’t sell Iraqi crude oil in the U.S. under a court decision that puts a fresh hurdle in the path of Kurdish efforts to achieve financial independence from the central government in Baghdad. The U.S. Court of Appeals for the Fifth Circuit in New Orleans dismissed an attempt by the Kurdistan Regional Government to overturn a judge’s earlier decision against its planned sale of oil to an unidentified buyer in the U.S. The KRG’s eventual sale of the disputed cargo in Israel made the appeal moot, the court said in a ruling.
Bilfinger today confirmed a £65million North Sea contract win has helped safeguard jobs at its UK base, as its Norwegian workforce faces a fresh round of cutbacks.
US independent Strata-X Energy has reported signs of oil in the Kuhlig #1 well in Illinois.
A safety alert has been issued after a faulty piece of equipment led to a gas leak on an offshore platform.
Technip today confirmed it has launched a new job losses consultation with its Aberdeen-based Subsea UK business.
Mosman, the New Zealand and Australia focussed oil exploration and development company, has raised £1.5 million to progress the acquisition of a proposed 70% interest in the South Taranaki Energy Project (STEP) assets in New Zealand.